Illustrative merchant fee rates MDR has been stable on a like-for-like product basis Drivers ● Product mix - the most important driver of overall MDR ● Loan duration within 0% APR ● Merchant mix Core 0% Long includes loans with term lengths greater than 12 months and 0% APR; Core 0% Short includes loans with term lengths at least three months long but less than or equal to 12 months and 0% APR; Core IB includes loans with interest from Afûrm integrated merchants; Pay in 4 (formerly known as Split Pay) includes loans with 0% APR and 6-8 week term lengths; Non-Integrated Virtual Card A F F I R M | 2 0 2 3 includes loans made by Afûrm at non-integrated merchants using Afûrm's virtual card technology; excludes loans made in Canada via Afûrm or legacy Paybright business and excludes Returnly and Debit+ Card transactions. Metrics are unaudited. 12
Affirm Financial Model Information Session Page 11 Page 13